A.S Watson expands further in EU

A.S. Watson Health & Beauty Benelux and Dirx Drugstores have reached an agreement for the acquisition of all 50 stores of the Dirx health and beauty retail network. The five other locations being rolled out will also be covered by the acquisition, which is in line with the strategy of A.S. Watson, the parent company of Kruidvat and Trekpleister.

 

The transaction is subject to standard conditions and approval by the Netherlands Authority for Consumer and Market. The value of the acquisition has not been disclosed.  

 

Upon the completion of the transaction, the Dirx stores will continue under the store concepts of either Kruidvat or Trekpleister. All Dirx employees will join A.S. Watson. 

 

A.S. Watson Health & Beauty Benelux CEO Gerard van Breen said the company is delighted with the acquisition. 

 

“The addition of these stores expands our national coverage making our stores accessible to even more consumers. We are also pleased to welcome the employees to our organization. The stores will operate under the banner of Kruidvat or Trekpleister. We are looking forward to having customers here benefit from our large range of bargain-price products," Mr. Breen added. 

 

According to Dirx Drugstores director Rick Groen, "With our 50 plus stores, we are currently too small a player to independently expand in the market. The A.S. Watson approach and focus of providing the best offers to customers at affordable prices is consistent with our philosophy. We are convinced that A.S. Watson is an excellent match to successfully move the business forward with our employees."

 

The firm is part of the A.S. Watson Group (ASW), the world's largest international health and beauty retailer in Asia and Europe with more than 11,000 stores in 25 markets. ASW is part of the multinational company Hutchison Whampoa in Hong Kong.